HINDUNILVR
I am posting this as one of the follower requested on twitter.
Observations:
1) On daily time frame, we can see that it is trading below 200DMA which is placed at 2429.01 level.
Also it is in the critical zone of 2365-2400 range.
If we see in past, it stays below 200DMA for short time only.
Safe positional buy trade will be only on sustainable breakout of 200DMA or level 2430 level.
Please refer below chart : 1day Time Frame.
2) Also on daily time frame, as we can see the parallel channel support zone.
And it is just above the upper trendline of the channel.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date 01-11-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
